Bernard Marcus

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Bernard Marcus
Bernard Marcus.jpg
Born (1929-05-12) May 12, 1929 (age 87)[1]
Newark, New Jersey
Residence Atlanta, Georgia
Citizenship United States
Education Rutgers University
Alma mater Rutgers University
Occupation Co-founder of Home Depot
Net worth IncreaseUS$3.5 billion (September 2015)[2]
Political party Republican
Spouse(s) Ruth Rados
Billi Marcus
Children

Bernard "Bernie" Marcus (born May 12, 1929) is an American businessman and philanthropist. He co-founded Home Depot and was the company's first CEO; he served as Chairman of the Board until retiring in 2002.

Early life and education[edit]

Bernard Marcus was born to Russian Jewish immigrant parents in Newark, New Jersey.[3] He grew up in a tenement and graduated from South Side High School in 1947.[4] Marcus wanted to become a doctor but could not afford the tuition, so he worked for his father as a cabinet maker through Rutgers University to earn a pharmacy degree.[3] While there he joined the Alpha Epsilon Pi fraternity.[5] He was also a brother of Alpha Kappa Psi Business Fraternity.

Career[edit]

Later, Marcus worked at a drugstore as a pharmacist but became more interested in the retailing side of the business. He worked at a cosmetics company and various other retail jobs, eventually reaching a position as CEO of Handy Dan Improvement Centers, a Los Angeles-based chain of home improvement stores. In 1978 both he and future Home Depot co-founder Arthur Blank were fired during a corporate power struggle at Handy Dan. In 1979 they founded the home-improvement retailer The Home Depot, with the help of merchandising guru Pat Farrah and New York investment banker Ken Langone who assembled a group of investors.

The store revolutionized the home improvement business with its warehouse concept. Blank, Marcus, and Langone became billionaires. Marcus served as the company's first CEO for 19 years and also served as chairman of the board until his retirement in 2002.[3] Marcus was inducted into the Junior Achievement U.S. Business Hall of Fame in 2006.

Marcus has opposed the Employee Free Choice Act (EFCA). He has also suggested that clients send donations to groups and Senate Republicans also against the EFCA. He views the legislation as hindrance to American capitalism, calling it "the demise of a civilization" and suggesting that any retailer who does not fight it "should be shot; should be thrown out of their goddamn jobs." [6][7][8][9] Marcus has also been an opponent of the Occupy Wall Street movement.[10] In 2015, Marcus donated $1.5 million to Super PACs supporting Jeb Bush and Scott Walker.[11]On June 1, 2016, Bernard Marcus wrote: " I now stand in support of Donald Trump because the fate of this nation depends upon sending him, and not Hillary Clinton, to the White House."[12]

Philanthropy[edit]

Marcus co-founded the Israel Democracy Institute in 1991, contributing $5 million for the construction of the institute’s building in Jerusalem’s Talbiya neighborhood and investing hundreds of millions of shekels in its ongoing operation over the years.[13] He heavily contributed to the launch of the Georgia Aquarium, which opened in downtown Atlanta, Georgia, in 2005.[14] Based mostly on the US$250M million donation for the Aquarium, Marcus and his wife, Billi, were listed among the top charitable donors in the country by The Chronicle of Philanthropy in 2005. Marcus also funded and founded The Marcus Institute, a center of excellence for the provision of comprehensive services for children and adolescents with developmental disabilities. In May 2005, Marcus was awarded the Others Award by the Salvation Army, its highest honor.[3] Marcus donated $25 million to Autism Speaks to spearhead its efforts to raise money for research on the causes and cure for autism. He is an active member of the board of directors.[15]

Marcus is currently chairman of the Marcus Foundation, whose focuses include children, medical research, free enterprise, Jewish causes and the community.[16] Marcus is on the Board of Directors and an active volunteer for the Shepherd Center.[17] His main focus is in providing care for war veterans with traumatic brain injuries.[18] He was named a Georgia Trustee in 2009. The award is given by the Georgia Historical Society, in conjunction with the Governor of Georgia, to individuals whose accomplishments and community service reflect the ideals of the founding body of Trustees, which governed the Georgia colony from 1732 to 1752.[19] In 2012, Marcus was awarded the William E. Simon Prize for Philanthropic Leadership.[20][21]

Personal life[edit]

Marcus has been married twice. He has two children with his first wife, Ruth: Frederick and Susanne Marcus Collins. With his second wife, Billi, he has a stepson, Michael Morris.[22]

References[edit]

  1. ^ "Marcus, Bernie". ebscohost.com. 
  2. ^ http://www.forbes.com/profile/bernard-marcus/
  3. ^ a b c d "Hall of Fame Biographies: Arthur Blank and Bernard Marcus". World Retail Hall of Fame. Retrieved 2009-05-27. 
  4. ^ The Ultimate New Jersey High School Year Book
  5. ^ "Well-known alumni". Alpha Epsilon Pi. Archived from the original on July 1, 2008. Retrieved 2009-05-27. 
  6. ^ "Home Depot Founder: Retailers Who Don't Support GOP "Should Be Shot"". Huffington Post. 2008-11-19. 
  7. ^ Pope, Carl (April 4, 2009). "Europhobia". Huffington Post. Retrieved 2009-05-27. 
  8. ^ Frank, Thomas (November 18, 2008). "It's Time to Give Voters the Liberalism They Want". The Wall Street Journal Opinion-Journal. The Wall Street Journal. Retrieved 2009-05-27. 
  9. ^ Stein, Sam (January 27, 2009). "Bailout Recipients Hosted Call To Defeat Key Labor Bill". The Huffington Post. Retrieved 2009-05-27. 
  10. ^ Abelson, Max (9 December 2011). "Bankers Join Billionaires to Debunk 'Imbecile' Attack on Top 1%". Bloomberg. Retrieved 29 May 2012. 
  11. ^ "Million-Dollar Donors in the 2016 Presidential Race". New York Times. 25 August 2015. Retrieved 14 October 2015. 
  12. ^ http://www.realclearpolitics.com/articles/2016/06/01/why_i_stand_with_donald_trump_130727.html
  13. ^ Sadeh, Shuki (17 March 2013). "How foreign donors reshaped Israel: A who's who". Haaretz. Retrieved 30 November 2013. 
  14. ^ Tharpe, Jim (May 29, 2005). Bernie Marcus makes mark with Georgia Aquarium The Atlanta Journal-Constitution
  15. ^ GiveSmart.org, 2013 Bernie Marcus' Philanthropic Profile
  16. ^ Wolfe, Josh (January 4, 2007). "Nano Talk With Bernie Marcus". Forbes/Wolfe Nanotech Report. Forbes. Retrieved 2009-05-27. 
  17. ^ "Shepherd Center, Donor Profile: Bernie Marcus". Retrieved 2010-12-21. 
  18. ^ Miller, T. Christian (December 21, 2010). "Philanthropist Provides Care That The Pentagon Won't". N.P.R. N.P.R. Retrieved 2010-12-21. 
  19. ^ "Governor and Georgia Historical Society to Name First New Georgia Trustees in 260 Years". Savannah Daily News. 1 December 2008. Retrieved 26 June 2012. 
  20. ^ "The Philanthropy Roundtable announces Bernie Marcus as the 2012 recipient of the William E. Simon Prize". Retrieved 30 April 2012. 
  21. ^ Jonathan V. Last. "Do It Yourself". philanthropyroundtable.org. 
  22. ^ Reference for Business: "Bernie Marcus" retrieved March 30, 2014
Business positions
Preceded by
none
CEO of Home Depot
1979–1997
Succeeded by
Arthur Blank